Hello colleagues! I would like to tell you a little about my trading in the past month. As a result, November profit was $ 532. There were not many deals – only 11. But what is especially important: they were all closed with a profit.
If we talk about the news background in November, it was relatively calm. The topic of Brexit temporarily lost its relevance, as the UK was engaged in an election campaign, which on December 12 successfully ended with a convincing victory for Boris Johnson’s party. And now we will follow the further development of events. The main topic in the November news feeds is negotiations between the United States and China. Information about their progress was different, and depending on this, the mood in the markets changed. To date, we are aware of the agreement reached between the two countries on the first part of the trade deal. It contains a limited range of issues, but is nevertheless very important in reducing the degree of uncertainty associated with trade relations between the United States and China. It is assumed that the formal signing of the agreement will take place in January. The optimism of the markets is given by the fact that Washington and Beijing refused to exchange the next portions of duties, which was scheduled for December 15.
Trade in November
Last month, my trading instruments were exclusively currency pairs. Five successful trades were made in the Japanese yen pair. The total profit for them was $ 257. Japan’s economy is export-oriented, so it is sensitive to everything that happens in the global economy. The Japanese currency in November reacted to all important statements regarding trade negotiations between the United States and the PRC. Positive news caused the Japanese yen to depreciate. And I used these moves to make a profit.
Trading deal on the CADJPY currency pair
On a strong upward movement, a correction began, which ended at the 38.2 Fib level. The retreat came against the backdrop of encouraging information about the progress of negotiations between the United States and China. A BUY order was opened. Further developments confirmed the chosen direction of the deal. An engulfing pattern has formed on the chart. The order was closed with a profit of $ 54. The rest of the yen trading positions were just as successful.
Well, the end of the trading year. Soon it will be possible to summarize.